Stellar (XLM) was launched on HotsCoin on January 10. Stellar (XLM) is an open, decentralized blockchain network for global financial infrastructure, designed to connect digital and fiat currency transactions. Through its unique design, Stellar effectively reduces the friction of cross-border remittances and provides an efficient, low-cost, decentralized payment solution. This study will delve into Stellar’s basic information, network design, application scenarios, consensus protocols, developer tools, and its role in the global financial system. XLM is currently open for trading on HotsCoin.
Summary
1. Basic information
Circulation: 28,268,628,805.815 XLM
Total supply: 50,001,787,052.886 XLM
Circulation market value: $ 3,275,310,886.856
Fully diluted market cap: $5,793,399,578.69
2. Stellar network design
Stellar is a mature chain with over 4.8 million accounts and has processed over 1.5 billion operations. Its design goal is to connect the global financial system through a decentralized network so that digital and fiat currencies can work together on a unified network. Stellar enables efficient, low-cost, interoperable financial transactions through its built-in functionality.
3. Application scenarios
The Stellar network has demonstrated strong application potential by connecting digital and fiat currencies, especially in cross-border remittances. In traditional financial systems, cross-border money transfers are often expensive, time-consuming and complex. Stellar reduces transaction processing time to 3 to 5 seconds and reduces costs to extremely low levels through its decentralized consensus protocol.
4. Consensus Protocol: Stellar Consensus Protocol (SCP)
Stellar Consensus Protocol (SCP) is the underlying consensus mechanism of the Stellar network. Unlike traditional proof of work and proof of equity, SCP reaches consensus through voting between nodes. This mechanism effectively reduces transaction processing time and makes the Stellar network competitive in terms of energy efficiency and decentralization.
5. Developer tools and built-in features
Stellar provides a wide range of developer tools, including Horizon API and development documentation, making it easy for enterprises and developers to build applications that run on the network. Its built-in features, such as high-speed transaction confirmation, low cost, asset issuance, decentralized exchange, etc., provide users and developers with rich functionality and flexibility.
6. Blockchain interoperability
Stellar is designed to enable blockchain interoperability, connecting different financial systems and forms of value. Its built-in decentralized exchange and supporting code provide users with a convenient cross-asset trading experience, allowing users to enjoy efficient financial services no matter where they are.
in conclusion
Stellar has made a mark in the global financial system through its advanced design and consensus protocol. Its application potential in cross-border remittances, payment networks and blockchain interoperability is huge, providing a new way to modernize the financial system. As blockchain technology continues to develop, Stellar is expected to play an important role in promoting financial inclusion and creating an open and efficient payment network.
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